Cryptocurrency Report
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Altcoin
  • Blockchain
  • Analysis
  • DeFi
  • NFT
  • ICO
  • Videos
What's Hot

Tornado Cash DAO goes down without explanation following vote on treasury funds

August 12, 2022

Crypto markets bounced and sentiment improved, but retail has yet to FOMO

August 12, 2022

Bitcoin and Ethereum Trim Gains, BTG and ETC Outperform

August 12, 2022
Facebook Twitter Instagram
  • Advertise
  • Privacy
  • Contact
  • Terms
Facebook Twitter Instagram LinkedIn
Cryptocurrency Report
  • Home
  • News
    1. Bitcoin
    2. Ethereum
    3. Altcoin
    4. View All

    Bitcoin and Ethereum Trim Gains, BTG and ETC Outperform

    August 12, 2022

    Crypto Awareness at 76% in Spain – Survey

    August 12, 2022

    BlackRock Doubles Down on Bitcoin, UNCTD vs. Crypto, DoJ Not Happy With Celsius + More News

    August 12, 2022

    No ‘Black and White’ Answer to the Proof-of-Work vs. Proof-of-Stake Question, Says Kraken

    August 12, 2022

    Ethereum’s Vitalik Buterin Lists ‘Worthwhile’ Ideas for Developers to Work On

    August 12, 2022

    Iran Goes Crypto, Ethereum Classic Camp Is Against Ethereum PoW Fork + More News

    August 11, 2022

    Reddit Community Points Ready for the Ethereum Mainnet Move

    August 10, 2022

    ‘Most Significant Legal Action’ Against Crypto in US, Hodlnaut Halts Withdrawals, Zipmex Releases Ethereum & Bitcoin + More News

    August 9, 2022

    Ripple Reportedly Eyes Celsius’ Assets, New Crypto Rule from SEC, Risky Metaverse + More News

    August 12, 2022

    Bitcoin and Ethereum Correct Gains, Altcoins Turn Red Too

    August 12, 2022

    Tornado Cash Ban Blows Winds of Both Division and Unity Through Crypto Community

    August 11, 2022

    Crypto Listing and Delisting Announcements: Week 32

    August 11, 2022

    Tornado Cash DAO goes down without explanation following vote on treasury funds

    August 12, 2022

    Crypto markets bounced and sentiment improved, but retail has yet to FOMO

    August 12, 2022

    Bitcoin and Ethereum Trim Gains, BTG and ETC Outperform

    August 12, 2022

    Ripple Reportedly Eyes Celsius’ Assets, New Crypto Rule from SEC, Risky Metaverse + More News

    August 12, 2022
  • Blockchain
  • Analysis
  • DeFi
  • NFT
  • ICO
  • Videos

    The Crypto Metaverse is Growing RAPIDLY! (INSANE MICROSOFT BUY)

    January 18, 2022

    BEST Crypto Safety Guide 101 (Keep Your $$ SAFE with Passphrases)

    January 18, 2022

    SHOCKING: Microsoft Enters the CRYPTO METAVERSE!!! (HUGE $69 Billion CASH Buy)

    January 18, 2022

    URGENT NEWS For Cardano Holders!! (MUST Watch Before Jan 20)

    January 17, 2022

    ⚠️ WARNING To All Bitcoin Holders ⚠️ (Time is RUNNING OUT!!!)

    January 17, 2022
  • bitcoinBitcoin(BTC)
    $42,304.00-0.92% 24H
    BITCOIN
    24H : -0.92%
    Volume : $18,001,823,455.00
    Marketcap : $804,136,324,461.00
  • ethereumEthereum(ETH)
    $3,187.18-1.80% 24H
    ETHEREUM
    24H : -1.80%
    Volume : $11,828,130,842.00
    Marketcap : $383,283,409,099.00
  • tetherTether(USDT)
    $1.000.020% 24H
    TETHER
    24H : 0.020%
    Volume : $42,292,952,195.00
    Marketcap : $82,566,134,570.00
  • binancecoinBNB(BNB)
    $416.19-2.16% 24H
    BNB
    24H : -2.16%
    Volume : $1,421,783,549.00
    Marketcap : $69,948,357,062.00
  • usd-coinUSD Coin(USDC)
    $0.9980.110% 24H
    USD COIN
    24H : 0.110%
    Volume : $3,215,590,549.00
    Marketcap : $50,856,931,622.00
  • solanaSolana(SOL)
    $110.52-1.25% 24H
    SOLANA
    24H : -1.25%
    Volume : $1,326,948,052.00
    Marketcap : $36,230,891,086.00
  • rippleXRP(XRP)
    $0.744-2.62% 24H
    XRP
    24H : -2.62%
    Volume : $2,611,405,064.00
    Marketcap : $35,798,721,281.00
  • cardanoCardano(ADA)
    $1.02-1.97% 24H
    CARDANO
    24H : -1.97%
    Volume : $735,911,632.00
    Marketcap : $32,692,285,870.00
  • terra-lunaTerra(LUNA)
    $87.96-7.21% 24H
    TERRA
    24H : -7.21%
    Volume : $2,091,404,457.00
    Marketcap : $31,224,000,667.00
  • avalanche-2Avalanche(AVAX)
    $79.94-4.23% 24H
    AVALANCHE
    24H : -4.23%
    Volume : $651,461,780.00
    Marketcap : $21,345,345,382.00
  • polkadotPolkadot(DOT)
    $18.98-3.96% 24H
    POLKADOT
    24H : -3.96%
    Volume : $522,492,664.00
    Marketcap : $20,904,948,600.00
  • dogecoinDogecoin(DOGE)
    $0.147-0.35% 24H
    DOGECOIN
    24H : -0.35%
    Volume : $1,709,936,369.00
    Marketcap : $19,528,083,067.00
  • binance-usdBinance USD(BUSD)
    $0.9990.100% 24H
    BINANCE USD
    24H : 0.100%
    Volume : $3,031,521,102.00
    Marketcap : $17,907,585,119.00
  • terrausdTerraUSD(UST)
    $1.000.00% 24H
    TERRAUSD
    24H : 0.00%
    Volume : $710,407,989.00
    Marketcap : $16,759,326,710.00
  • shiba-inuShiba Inu(SHIB)
    $0.000024-0.91% 24H
    SHIBA INU
    24H : -0.91%
    Volume : $622,427,689.00
    Marketcap : $13,391,607,837.00
  • wrapped-bitcoinWrapped Bitcoin(WBTC)
    $42,263.00-1.06% 24H
    WRAPPED BITCOIN
    24H : -1.06%
    Volume : $205,987,180.00
    Marketcap : $11,648,041,723.00
  • crypto-com-chainCronos(CRO)
    $0.437-1.87% 24H
    CRONOS
    24H : -1.87%
    Volume : $43,191,918.00
    Marketcap : $11,045,868,142.00
  • nearNEAR Protocol(NEAR)
    $15.96-4.67% 24H
    NEAR PROTOCOL
    24H : -4.67%
    Volume : $1,001,407,008.00
    Marketcap : $10,603,423,829.00
  • staked-etherLido Staked Ether(STETH)
    $3,182.92-1.85% 24H
    LIDO STAKED ETHER
    24H : -1.85%
    Volume : $8,945,498.00
    Marketcap : $10,259,684,260.00
  • matic-networkPolygon(MATIC)
    $1.43-2.09% 24H
    POLYGON
    24H : -2.09%
    Volume : $379,202,804.00
    Marketcap : $9,786,905,958.00
Cryptocurrency Report
Home » Bitcoin Is ‘Fundamentally Different’ From Other Cryptos, Unlikely To Be Replaced – Fidelity
Bitcoin

Bitcoin Is ‘Fundamentally Different’ From Other Cryptos, Unlikely To Be Replaced – Fidelity

CryptoReporterBy CryptoReporterFebruary 1, 2022No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
Source: Adobe/Kevin McGovern

 

Bitcoin (BTC) is fundamentally different from any other digital asset and no other digital asset is likely to improve upon bitcoin as a monetary good, according to digital asset-focused financial services provider Fidelity Digital Assets.

In its latest report, the subsidiary of US-based mutual fund giant Fidelity Investments said that BTC “is the most (relative to other digital assets) secure, decentralized, sound digital money and any ‘improvement’ will necessarily face tradeoffs.” For example, improvements in speed or
scalability would lead to a reduction in another characteristic, such as the level of decentralization or security. 

The authors of the report added that non-bitcoin projects should be evaluated from a different perspective than BTC, as the rest of the digital asset ecosystem can address different needs or solve other issues that bitcoin cannot. 

Fidelity claims that BTC is best understood as a monetary good and is likely to serve as “the primary monetary good and another digital asset is not likely to supersede bitcoin in this role.”

The report also compares BTC with the second-largest cryptoasset in terms of its market capitalization, Ethereum (ETH).

“While Ethereum may be viewed by some as a superior or more advanced network compared to Bitcoin, the additional capabilities and flexibility come at a cost, most notably a more complex network that increases the chance for software bugs as well as less decentralization and potential decline in security,” according to Fidelity Digital Assets.

The report notes that, contrary to the BTC network, the ETH network is fast and responsive to user demand, but also more centralized and expensive.

The firm estimates that traditional investors typically attempt to place bitcoin within a technology investing framework which leads them to the conclusion that, as a first-mover technology, bitcoin could easily be replaced by a superior crypto or have lower returns. 

However, BTC’s “first technological breakthrough was not as a superior payment technology but as a superior form of money. As a monetary good, bitcoin is unique. Therefore, not only do we believe investors should consider bitcoin first in order to understand digital assets, but that bitcoin should be considered first and separate from all other digital assets that have come after it,” the report concluded.
___
Learn more: 
– Bitcoin is Digital Property, Ethereum is Digital Security – Argues Michael Saylor
– ‘Fiat-Like’ Proof-of-Stake Chains Favor Centralization & Rich Players

– Why Ethereum is Far From ‘Ultrasound Money’
– Narratives Blur as Bitcoin and Ethereum Target Each Other’s Field

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin and Ethereum Trim Gains, BTG and ETC Outperform

August 12, 2022

Crypto Awareness at 76% in Spain – Survey

August 12, 2022

BlackRock Doubles Down on Bitcoin, UNCTD vs. Crypto, DoJ Not Happy With Celsius + More News

August 12, 2022

No ‘Black and White’ Answer to the Proof-of-Work vs. Proof-of-Stake Question, Says Kraken

August 12, 2022

Block Bitcoin Wallet Team Reveals Their Plans and Seeks Feedback

August 12, 2022

US IRS Comes After Clients of Another Crypto Exchange

August 11, 2022
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Tornado Cash DAO goes down without explanation following vote on treasury funds

August 12, 2022

Crypto markets bounced and sentiment improved, but retail has yet to FOMO

August 12, 2022

Bitcoin and Ethereum Trim Gains, BTG and ETC Outperform

August 12, 2022

Subscribe to Updates

Get the latest sports news and analysis about crypto coins and the latest news about domains from Techie Memo.

Advertisement

Your number 1 source for all Cryptocurrency news and analysis. here you can follow all updates and latest rates for all currencies. Visit our about page for more information.

We're social. Connect with us:

Facebook Twitter Instagram YouTube LinkedIn
Top Insights

Tornado Cash DAO goes down without explanation following vote on treasury funds

August 12, 2022

Crypto markets bounced and sentiment improved, but retail has yet to FOMO

August 12, 2022

Bitcoin and Ethereum Trim Gains, BTG and ETC Outperform

August 12, 2022
Get Informed

Subscribe to Updates

Get the latest sports news and analysis about crypto coins.

Facebook Twitter Instagram LinkedIn
  • Guest Post
  • Privacy Policy
  • Terms & Conditions
  • Contact
© 2022 Cryptocurrency Report. Designed by Sawah Dev.

Type above and press Enter to search. Press Esc to cancel.